Advisor Group Inc. Trims Position in Copart, Inc. (CPRT)
Advisor Group Inc. decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 35.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,445 shares of the business services provider’s stock after selling 2,960 shares during the quarter. Advisor Group Inc.’s holdings in Copart were worth $187,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Copart by 103.5% during the 2nd quarter. Vanguard Group Inc. now owns 16,180,796 shares of the business services provider’s stock worth $514,387,000 after purchasing an additional 8,230,677 shares during the period. BlackRock Inc. grew its stake in Copart by 103.6% in the 2nd quarter. BlackRock Inc. now owns 16,093,508 shares of the business services provider’s stock valued at $511,611,000 after acquiring an additional 8,189,852 shares during the last quarter. William Blair Investment Management LLC grew its stake in Copart by 91.4% in the 2nd quarter. William Blair Investment Management LLC now owns 10,526,463 shares of the business services provider’s stock valued at $334,636,000 after acquiring an additional 5,025,918 shares during the last quarter. Principal Financial Group Inc. grew its stake in Copart by 106.5% in the 2nd quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock valued at $235,810,000 after acquiring an additional 3,826,242 shares during the last quarter. Finally, Wasatch Advisors Inc. grew its stake in Copart by 109.9% in the 2nd quarter. Wasatch Advisors Inc. now owns 7,061,828 shares of the business services provider’s stock valued at $224,496,000 after acquiring an additional 3,697,382 shares during the last quarter. Hedge funds and other institutional investors own 78.68% of the company’s stock.
In other news, President Vincent W. Mitz sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the sale, the president now owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matt Blunt sold 116,667 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $41.96, for a total transaction of $4,895,347.32. The disclosure for this sale can be found here. Insiders sold 476,667 shares of company stock valued at $17,252,147 in the last ninety days. 16.40% of the stock is owned by corporate insiders.
Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Tuesday, November 21st. The business services provider reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Copart had a net margin of 20.01% and a return on equity of 29.96%. The firm had revenue of $419.17 million for the quarter, compared to analyst estimates of $377.37 million. During the same quarter last year, the firm posted $0.29 earnings per share. research analysts anticipate that Copart, Inc. will post 1.5 earnings per share for the current year.
CPRT has been the topic of a number of recent research reports. J P Morgan Chase & Co upped their target price on shares of Copart from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, November 24th. Gabelli reiterated a “hold” rating on shares of Copart in a report on Friday, November 24th. Robert W. Baird reiterated a “buy” rating and set a $44.00 price objective on shares of Copart in a report on Friday, November 24th. CJS Securities reiterated an “outperform” rating and set a $42.00 price objective on shares of Copart in a report on Thursday, October 5th. Finally, Jefferies Group increased their price objective on shares of Copart to $40.00 and gave the stock a “hold” rating in a report on Thursday, November 23rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Copart has an average rating of “Hold” and an average price target of $41.40.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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